908 Devices Inc. (NASDAQ:MASS) Insider Sells $22,535.76 in Stock

908 Devices Inc. (NASDAQ:MASS) insider Michael S. Turner sold 9,672 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $2.33, for a total value of $22,535.76. Following the transaction, the insider now owns 24,603 shares of the company’s stock, valued at approximately $57,324.99. This trade represents a 28.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

908 Devices Stock Performance

MASS traded up $0.08 on Tuesday, hitting $2.37. The company had a trading volume of 264,671 shares, compared to its average volume of 1,063,058. The stock has a fifty day moving average price of $2.36 and a 200-day moving average price of $3.29. 908 Devices Inc. has a 12-month low of $1.81 and a 12-month high of $7.91. The stock has a market capitalization of $82.52 million, a price-to-earnings ratio of -1.34 and a beta of 0.98.

Hedge Funds Weigh In On 908 Devices

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its stake in 908 Devices by 35.5% in the second quarter. Millennium Management LLC now owns 618,310 shares of the company’s stock valued at $3,184,000 after purchasing an additional 161,922 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of 908 Devices by 1.2% during the third quarter. Geode Capital Management LLC now owns 567,788 shares of the company’s stock worth $1,970,000 after acquiring an additional 6,634 shares during the last quarter. State Street Corp grew its stake in shares of 908 Devices by 1.2% during the third quarter. State Street Corp now owns 479,044 shares of the company’s stock worth $1,662,000 after acquiring an additional 5,704 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of 908 Devices by 88.3% during the second quarter. Dimensional Fund Advisors LP now owns 245,176 shares of the company’s stock worth $1,263,000 after acquiring an additional 114,987 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of 908 Devices by 14.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 220,477 shares of the company’s stock worth $765,000 after acquiring an additional 28,015 shares during the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Analysts Set New Price Targets

MASS has been the subject of several recent analyst reports. Stephens restated an “overweight” rating and issued a $6.00 price target on shares of 908 Devices in a research note on Wednesday, January 15th. Leerink Partnrs downgraded 908 Devices from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Weiss Ratings restated a “sell (e+)” rating on shares of 908 Devices in a research note on Saturday. Leerink Partners reiterated a “market perform” rating and set a $4.00 target price (down from $12.00) on shares of 908 Devices in a research report on Wednesday, November 13th. Finally, Stifel Nicolaus lowered their target price on 908 Devices from $17.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $5.33.

About 908 Devices

908 Devices Inc, a commercial-stage technology company, provides various purpose-built handheld and desktop mass spectrometry devices to interrogate unknown and invisible materials in life sciences research, bioprocessing, pharma/biopharma, forensics, and adjacent markets. The company's products include MX908, a handheld, battery-powered, and Mass Spec device that is designed for rapid analysis of solid, liquid, vapor, and aerosol materials of unknown identity; Rebel, a small desktop analyzer that provides real-time information on the extracellular environment in bioprocesses; and Maverick, an optical in-line analyzer that offers real-time monitoring and control of multiple bioprocess parameters, including glucose, lactate, and total biomass in mammalian cell cultures, as well as provides process fingerprint data to support large-scale efforts in predictive bioprocess modeling.